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. reporting live in washington, i'm dan yeielle leigh. mara, back to you. >> thank you. >>> tim geithner is adding to the pressure to get the office calf cliff deal done. in an open letter wednesday, he warned the federal government may not be able to pay its bills once the country reaches its borrowing limit on december 31st, which is monday. that could broil financial markets and lead to a financial downgrade. he proposes a series of extraordinary measures to postpone the date that the u.s. would otherwise default on its legal obligations. geithner estimates his plan would free up about $200 billion, providing roughly two months of wiggle room. >>> well, last night on "the rachel maddow show," guest host ezra klein asked former clinton budget director alice rivlin on where we could see the fallout from the fiscal cliff. >> the real uncertainty i think is what the markets will look isn't in control of its own destiny because we're acting that way right now. now, if you're an investor, whether you're in some part of the united states or you're in some other part of the world, do you rea
turning point for republic i had dans thought he lost that election because he went back on that pledge and raise taxes. will you get anyone in the house to raise taxes at all? >> you make a great point that republicans have kind of their party identity has evolved that they are very consistent on this tax issue and have been since that episode in the '90s, but what you are missing i think is that conservatives are not -- they haven't arrived at a consensus position that this actually would be raising taxes. some of them do, some will vote against this, grover norquist says boehner's plan b wouldn't raise taxes. under current law, the rates are set to go up. >> we'll talk to you again, soon, i'm sure, even if it's not that soon it will be in february or march when we have to revisit this all over again. gentlemen, thank you so much. >> take care. >>> a new here no our viewers, you don't want to miss "meet the press," david gregory sitting down with president obama. check local listings for "meet the press" tomorrow morning. >>> turn to weather now. another winter storm. marching north,
dealmakers around and people like dan rostenkowsky and the late jack brooks when he was chairman of the judiciary committee. we need a few more people like that who know how to get thins done. unfortunately, we're in short supply right now. >> david, is john boehner's role -- has his role been diminished? >> no. i mean, look, what you have is a situation, i think what's clearly occurred here has been the house passed bills in terms of being able to avert this fiscal cliff, the senate has had difficulty in managing those bills and as a result of that harry reid ended up passing a completely different bill rather than taking up what could have been to get us into the traditional process and then they get to the congress where they get to negotiate and for some reason i don't understand why reid didn't pick up the two bills and simply pass them and amend them the way we wanted so we can get the congress. i'm sort of befuddled by that. >> that's a good point. jonathan allen raised an interesting point and it speaks to what you just said as well, david. this is from politico yesterday
even more significant this time, dan, because really the american job generation machine has slowed down dramatically. and we've let our business environment get less and less efficient. we've let the cost of doing business rise up. we've got -- we're losing many, many more investment decisions and business activities to other countries than we're getting back. and yet, the political debate including the one we're having this morning is really not about the really important things. it's not about skills. it's not about the fundamental structure of reforms we need to make in our budget, our tax system. we're kind of -- we've gotten ourselves into a kind of a short-term day-to-day dialogue. we're not really addressing the real issues. >> a couple things going back to jpmorgan. first of all, we learned time and time that no man, no human being is smarter than the markets. not anybody. that's number one. and number two, with regard to the banks and the size of the bank, we got rid of glass steegle which allowed investment banking to combine with commercial banking because we needed to b
Search Results 0 to 3 of about 4